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2� 1 ��2�28
<br /> DEE� �F TRL�ST
<br /> ��o�tinued} P�ge 3
<br /> reasvnably acce�tabfe ta Lender. Trus�or, upan request o� Lender, will deli�er ta Lender firam time ta time the
<br /> policies or ce��fcates of insu�rance in�orm sa�is�actory to L�nder, including stipulations that caverages will nv�be
<br /> cancelled or d'iminished w�thou�a�Ieast thirty �3�} days priar writ�en nv�ice to Lender. Each insurance po�icy als❑
<br /> shall include an endvrsemen�pra�iding�ha�coWerage in favor of Lender will nat be impa�red�n any way by any a��,
<br /> vmission ❑�-defaul� af Trustor�or any afiher person. 5hauld the Real Property be lacated in an area designa�ed b�
<br /> �he Administratar of the Federal Emergency Management Agency as a spacial �Iood ha�ard area, Trustvr agre�s to
<br /> ❑btain and maintain Federa� Flood Insuran�e, if ava��able, f�r the fu�� unpaid principa� balan�e of the ioan and any
<br /> prior liens ❑n the property securing the laan, up tv the maximum pali�y I�mi�s set under the Nationa� Flood
<br /> lnsuran�e Program,or as atherwise required by Lender,and to maintain such insuran�e for�he term af�he�oan.
<br /> App[icatfon af Pr�ceeds. Trustor shall prompfily noti�y Lender af any lvss vr damage�v th� Property. Lender may
<br /> make prafl� �f loss if Trustor fails to do sa within �fteen �'I5} days of the �asualty. VIlhether ar nafi Lender's
<br /> secu�i�y is impaired, Lender may, a�L�nder's electivn, receiv�and retain the pra�ee�s of any insuran�e and apply
<br /> the proceeds �� the reduction af the Indebtednes�, payment af any lien aifieGting the Property, ❑r�h� restvra�ion
<br /> and r�pair nf the Praperty. If Lender elects ta appfy�he prviceeds to rest��a�ion and repair, Trus�ar shalf r�pair or
<br /> repfa�e �he damaged or destroyed [mprovements in a manner satisfactory t� Lender. Lender sha�l, upon
<br /> satis�act�ry pro�f o� such expend��u�e, pay vr reimburse Tnastor from �he pra�eeds far the reas�nable cast �f
<br /> repair or res�ora��on if Tn.rstor is nvt �n defaul� under this Deed afi Trust. Any proceeds which ha�e nvt been
<br /> disbursed within '�8D days af�er�heir receip� and which Lender has nvt �ommitted �o the repa�r or restoration o�
<br /> �he Property shall be used f�rs�ta pay any amoun�owing t❑ Lender under�h is De�d��Trust,�hen to pay accrued
<br /> interest, an� the remainder, �� any, sha�� be app�ied �o �he p.rincipal �alance af the fndebtedness. I�Lender holds
<br /> any praceeds after payment �n fu�� of the Indebtedness, su�h proceeds shall be paid �v Trustor as Trustvr`s
<br /> interests may appear.
<br /> Trustar's Repart an lnsurance. Upvn request of Lender, how�ver nflt m�re than ance a year, Trustar shall furnish
<br /> to Lender a report vn each exis#ing palicy vf insurance showing. �'�} the name af the insurer; ��} �he risks
<br /> insured; {3} the amount vf the palicy; {4� the prope�y insured, the then cur�ent replacement �alue ❑f such
<br /> prope�ty, and the manner o�d�termining that vaiue; and 45} the expiration date of�he pa�icy. Trustar shall, upan
<br /> request of Lender, ha�e an independent apprais�r satisfaG#ory to Lender determine�he cash�alue r�placement c�s�
<br /> of the Pr�perky.
<br /> LENDER'S E�F�ENDITIJRES. lf any ac�ion or proceeding is�vmmenced thafi would mate�ally a�fect Lende�'s interes#in
<br /> '�h� Prvperty or i�Trustor fails to c�mply with any pra�isivn of this Deed of Trus�or any Related Documen�s, incfuding
<br /> but not �imited �a Trustvr's failure to discharge vr pay when due any amounfis Trustar is required�a disGhar�e or pay
<br /> under this Deed of Trus�ar any Related Documents, Lender on Trustor's beha[f may�but sha�� nvt b�obligated�a}�ake
<br /> any activn that Lender deems apprapriate, including but nvt limi�ed to dis�harging ar paying ail taxes, I�ens, security
<br /> interests, encumbran�es and ather claims,at any�ime le�ied ar placed❑n�he Property and paying a�l casts�or insu�ing,
<br /> maintaining and preserving�he Praperly. All such expenditures�ncurred❑r paid by Lender�ror such purposes will then
<br /> bear interest a�the rate charged under the Nate fram the da�e incurred or paid by Lendsr tv�he da�e af r�payment by
<br /> Trustvr. All such exp�nses will become a parfi af the Indeb�edness and, at Lender's aptian, will (A} be payable on
<br /> demand; (B} be added to the balance af the No�e and be appor�ioned among and be payable wi�h any ins�al�ment
<br /> payments fa becvme due during either �1} the term o�any appl�cab��insuranc:�policy; ar ��} the remaining term of
<br /> the Note; or tC} be treat�d as a ba�loan paymen�which wilf be due and payabfe at the Nvte's maturi�y. The Deed of
<br /> Trust also wif I secure payment ��these amvunts. 5uch righ� shall be in additian to a�l vfiher righ�s and remedies �a
<br /> wh�ch Lender may be entitled upon❑efau��.
<br /> WARRANTY; DEFENSE�F T1TLE. The fo�law�ng prov�siQns refating �a ownership of the Property are a par�of th�s Deed
<br /> af Trust:
<br /> Title. Trustor warrants fihat: �a}T�-ustar holds ga�d and marketa�le �i��e vf record�o the Proper[y in fee Simple,
<br /> free and clear of afl �i�ns and �ncum�rances o#her than those set forth in the Reai PrQper�y description ❑r in any
<br /> title insurance policy, title repo�k, ar fna� tit�e apin�on issued in �a�or of, and accepted by, Lender in connec#ivn
<br /> with �his [3eed❑f Trust, and t�}T�us�vr has the�ull r�ghfi, powe�, and authority ta exeCute and deliver�hi� Deed a�
<br /> Trust ta Lender.
<br /> Defense of Title. Subjec�to the except'ron in �he par�graph above, Trustor wa�rants and w�ll fore�er defend the
<br /> �itle to the Property against the lawfuf claims of all persans, in the e�en�any a�tran ❑r proce�ding is cammenced
<br /> that ques#�ans Trustar's fiitl� vr�he interes�of Trusfiee ar Lender under this D�ed of Trust,Trustor shafl defend the
<br /> action at Trustor's expense. Trustor may be the nomina� party in such prviceeding, but Lender sha�� be en�����d t�
<br /> participa�e in �he prviceeding and to be represent�d in �he proceeding ay counsel ❑� Lender's vwn cho�ce, and
<br /> Trustor will defi�er, o�cause ta be deli��red, to Lender such instruments as L�nder may request f�vm time ta time
<br /> tv permi�such participa�ion.
<br /> C�mpliance With Laws. Trustvr warrants that the Property and Trustor's use v�the Praperty �omplies with all
<br /> existing applicable�aws, ordinances,and r�gulations�f go�ernmental authorities.
<br /> SurvivaC af Re�resen#a#ivns and Wa�rant'res, AII represen�ativns, war�-anties, and agreements made by Trustar in
<br /> this Deed vf Trust shall survi�e the executivn and deli�ery of this Deed vf T�ust, shall be con�inuing in nature, and
<br /> shall remain�n�Full fvrce and effect until such tim�as Trus�vr's Indek��edness shal!be paid in�ull.
<br /> CON�EArINAT1DN. The fo[faw�ng provisions relating to condemnation proc�edings are a part of this Deed of Trust:
<br /> Prv�eedin�s. �f any pra�eeding �n c�ndemnation is fifed, Trustor shall promptly no�ify Lender in wr�ting, and
<br /> Trustor shal� promptly�ake su�h steps as may be neoessary to defend�he action �nd ob�ain the award. Trustor
<br /> may be�he nominal party in such praceeding, but Lender shall be entitled to park�cipate in the proceeding and�o be
<br /> represen�ed in the proceeding by counsel af its own chvice, and Trustor will deliver or cause to be deli��red to
<br /> Lender� such ins�ruments and dacumentativn as may be reques�ed by Lender from time to time to permzt such
<br /> participation.
<br /> Appfication Qf Ne� Proceeds. �f all or any par�nf the Pr�per�y is condemned�ay eminent domain praceedings ar by
<br /> any praceeding vr purchase in lieu of�ondemna�ion, Lende�may at its elect�an require that al��r any por�ion of the
<br /> net p�ooeeds a��he award be applied fo the indebtedness or#he repair or restora�ian af the Property. Th� net
<br /> praceed�of the award shall mean th�award af�er paymen�af a�l reasanable costs, expenses, and a�kor-neys'fees
<br /> incurred hy Truste�or Lender in Gonnec�ian with�he cond�mna�ion.
<br /> Il111PQ5NTIDN QF TAXES, FEES AND GHARCES BV GOVERiVME[VTAL AUTHORITIES. The �ollawing pra�isions relating
<br /> ta ga�ernmenta�taxes,fiees and �harges are a part of this Deed of Trust:
<br /> Gurrent Taxes, Fees and Charges. Upon request by Len�er, Trustor sha�� execute such dacuments in addi�ion to
<br /> this Deed of Trust and take whate�er flther actian is reques�ed by Lender ta �erFect and continue Lender's lien 4n
<br /> the Real Property. Trustor sha�� reimburse Lender fo� a[I �axes, as described belaw, t�gether with ali expens�s
<br /> incurred in recording, perfecting �� cantinuing �his Deed o� Trust, including without I�mitation all �ax�s, fiees,
<br /> d�cumentary stamps,and other charges for recording❑r registering this Deed of Trust.
<br /> Taxes. The following shall constitu�e taxes to which this section app�ies: ��} a speci�ic tax upon th�s �ype vf
<br /> Deed of Trust or upon al� vr any part of the Indeb�edness s�cured by �his ��ed ofi Trust; (2} a speci�ic tax an
<br /> Trustvr vsrhi�h Trustar is authvrized ar required tv deduc��rom payments an the Indebtedness secured by this type
<br /> af D�ed vf Trust; 43} a tax vn�his type of Deed of T�-ust chargeable against the L�nder or the hvider�f th� Note;
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